What it means for you
Icon expand What this means for you?
There should be no change to your everyday banking services. We’ll continue to support you and keep you informed and updated. We’re closely monitoring the situation and we’re committed to providing you with as much notice as possible should any changes be required. Our aim is to continue to provide you with the same level of service and range of products as we do today.
Icon expand How we prepared for the UK leaving the EU
We continue to provide services for our customers that live, work and do business in the Republic of Ireland.
We’ve already made changes to the way we’re organised to ensure we can continue to serve customers from 1 January 2021.
Those customers affected by these changes have already been contacted by their Relationship Manager.
We continue to work closely with our regulator, the Irish Government and trade organisations to help us understand what the future UK-EU relationship means for the Financial Services sector.
Brexit Frequently Asked Questions
What is the transition period?
The transition period allowed the UK to continue to participate in the European Single Market while it negotiated the future UK-EU relationship. The transition period ends on 31 December 2020 and very little has changed for the vast majority of our customers during this time.
Can I still make and receive payments from UK/EU countries?
Yes. There should be no change to how you make and receive payments to EU countries. And, of course, you can continue to access your bank account in your normal way to conduct your everyday banking needs.
What happens next?
We’re committed to supporting our customers. Our aim is to continue to provide customers with the same level of service and range of products as we do today.
Icon expand Which countries are in the EU?
The EU comprises:
Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.
Icon expand Which countries are included in the European Economic Area (EEA)?
The EEA includes EU countries and Iceland, Liechtenstein and Norway. It allows them access to the EU’s single market.
Switzerland is neither an EU nor EEA member but is part of the single market - this means Swiss nationals have the same rights to live and work in the UK as other EEA nationals.
Icon expand Will I still be able to use ATMs in the UK and EU countries?
Yes. It will still be easy to use your bank card in ATMs in the UK and across Europe, in much the same way as you can use it today when you go on holiday to non-EU countries, such as America or Australia. And, of course, you can continue to access your bank account through our mobile app and online banking to conduct your everyday banking needs.
Icon expand Is my money safe?
Yes. If you are currently covered by the Deposit Guarantee Scheme, you will continue to be covered by this scheme. Ulster Bank Ireland DAC will continue to be regulated by the Central Bank of Ireland.
Further information on the Republic of Ireland Deposit Guarantee Scheme can be found here.
Icon expand What is the Withdrawal Agreement?
The Withdrawal Agreement sets out the terms of the UK’s exit from the EU, including provisions for a transition period until 31 December 2020.
Icon expand What is Open Banking?
Under Payment Service Directive 2 and subject to customer consent, financial credit institutions are required to share customer bank account information with other regulated Third Party Providers (TPP) for use in the services they provide and / or allow regulated TPPs to initiate payments on customer accounts. Examples of common regulated TPPs include accounting software service providers, online financial service providers, etc.
Icon expand Is there any impact on my Open Banking services?
The United Kingdom (UK) left the European Union (EU) on 31 January 2020. From 1 January 2021, some Third Party Providers (TPP) licenced in the UK will no longer be able to access your transactional current account data under your existing Open Banking arrangements which may in turn, impact the provision of this service to you.
Icon expand What is changing and why?
As the services provided are regulated activities, any TPP not licenced in the EU requires EU authorisations to conduct business with an EU customer. From 1 January 2021, UK TPPs will require EU authorisations to continue to service EU customers.
Icon expand What do I need to do?
It is likely that your TPP has secured the required EU authorisations or is actively working on securing the required authorisations on or before the expiry of the transition period on 31 December 2020. However, if you have a concern in relation to this, we recommend you contact your TPP to confirm their arrangements for the ongoing provision of services from your account.
Icon expand Why can Ulster Bank not fix this problem for me?
We recognise the potential for this to disrupt the arrangements that you have with your service provider but unfortunately, we cannot fix this problem on your behalf as the corrective action needs to be taken by the TPP. We can only provide Open Banking access to your transactional current account data where the TTP is in compliance with the EU regulations and we have made TPPs aware of this potential issue.
To protect our customers, we can only share customer account information with regulatory compliant TPPs.
Icon expand Are there any workaround solutions?
For Bankline customers, it is still possible for you to download your data via a CSV file – please refer to your Bankline Internet Banking Export File Layout User.
Icon expand What is changing with SEPA Direct Debits (SDDs) and why?
The SDDs made between banks are governed by a set of regulations designed to protect customers using the payments systems. They define the information required to process transactions between banks, such as name, address, payee details.
With immediate effect from 1 January 2021, any SDDs from the UK require complete and full information to be provided to the bank as the UK will be outside of the EU. This means that SDDs presented on your account, which are sent by UK banks will now need to contain complete and full information. If the additional information is not included, then the SDDs may not be processed as they do not comply with these EU regulations. To protect our customers, we can only process payments that are in compliance with these EU regulations.
Icon expand Who are Service Providers and SEPA Direct Debit (SDD) originators?
Companies that provide a service in return for a fee, for example broadband, TV, waste collection, insurance, are known as service providers. When these companies take their fee from a customer’s bank account on a regular basis through an SDD, they are known as SDD originators. In order for the SDD originator to be able to collect an SDD they must adhere to the regulations set down by the European Regulatory Authority for the collection of such payments. If they do not adhere to the regulations, then the SDD cannot be processed.
We have identified a number of customers who may be affected by this change and have written to them to advise of this potential issue.
Icon expand What do I need to do?
Service providers are actively working with their UK payment services providers to provide the additional information so that SEPA Direct Debits (SDDs) can be collected in the normal way from 1 January 2021. However, if you have a concern in relation to this, and to ensure that your SDDs are still collected, we recommend that you contact the service provider to confirm that their UK bank have all the information required to process payments from 1 January 2021.
Icon expand Why can Ulster Bank not remedy the situation?
The corrective action needs to be taken by the service provider. We can only process SEPA Direct Debits (SDDs) that comply with EU regulations. There have been communications with the SDD originators to ensure that they are aware of this potential issue.
If you have any questions in relation to Brexit, please contact us. Our general contact numbers can be found on our website:
Information is also available for our business customers here.
Irish Government Support Tools